NTV Asset Management LLC Increases Holdings in Cloudflare, Inc. (NYSE:NET)

NTV Asset Management LLC boosted its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 585.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,700 shares of the company's stock after purchasing an additional 11,700 shares during the period. NTV Asset Management LLC's holdings in Cloudflare were worth $1,544,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NET. Mather Group LLC. lifted its stake in shares of Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after buying an additional 202 shares during the last quarter. NBC Securities Inc. acquired a new position in Cloudflare during the 1st quarter worth about $27,000. GPS Wealth Strategies Group LLC lifted its position in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare in the 4th quarter valued at approximately $43,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Susquehanna lowered their target price on Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a report on Wednesday, April 16th. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 target price for the company in a report on Monday, May 12th. Cowen reissued a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. Finally, KeyCorp initiated coverage on Cloudflare in a research report on Friday, June 6th. They issued an "overweight" rating and a $210.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $145.92.

Cloudflare Trading Up 0.1%

NET traded up $0.21 during trading on Tuesday, hitting $193.06. The company's stock had a trading volume of 2,443,794 shares, compared to its average volume of 3,155,750. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90. Cloudflare, Inc. has a twelve month low of $69.26 and a twelve month high of $198.01. The stock's fifty day moving average price is $164.24 and its 200-day moving average price is $138.78. The firm has a market capitalization of $66.92 billion, a P/E ratio of -839.39 and a beta of 1.85.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The firm had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same period in the previous year, the company earned $0.16 earnings per share. Cloudflare's revenue for the quarter was up 26.5% compared to the same quarter last year. Analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $180.76, for a total transaction of $1,807,600.00. Following the completion of the transaction, the chief financial officer owned 241,550 shares in the company, valued at approximately $43,662,578. This represents a 3.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $171.41, for a total value of $4,395,123.81. Following the transaction, the insider owned 6,390 shares of the company's stock, valued at $1,095,309.90. The trade was a 80.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 478,603 shares of company stock worth $75,548,296 in the last three months. 10.89% of the stock is owned by corporate insiders.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.